The U.S. Chamber of Commerce’s Institute for Legal Reform (ILR) plays a leading role in addressing these concerns by advocating for transparency and accountability in TPLF. ILR conducts research, publishes reports, and supports legislation requiring disclosure of funding arrangements in federal and state courts. Its efforts aim to prevent conflicts of interest, reduce speculative lawsuits, and safeguard national security by limiting foreign involvement in U.S. litigation. Through policy influence and global engagement, ILR seeks to ensure that litigation funding does not undermine the fairness or efficiency of the civil justice system.
Third Party Litigation Funding
Third-Party Litigation Funding (TPLF) is a financial arrangement where an outside entity, such as an investment firm or specialized litigation funder, provides money to plaintiffs or law firms to cover litigation costs in exchange for a share of any settlement or judgment.
Explainer
Third-party litigation funding (TPLF) is a multibillion-dollar global industry that operates largely in secret, allowing hedge funds and foreign entities to invest in lawsuits for profit, which can prolong litigation, increase costs, and reduce plaintiffs’ recoveries while posing national security risks.
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